Like Facebook, this is the first time Amazon(AMZN) has broken into BrandZ's Top 10 ranking.
The company is creating its own entertainment content and has ramped up an impressive delivery and logistics business, disrupting an industry that was traditionally dominated FedEx(FDX) and UPS(UPS).
The company is not simply satisfying consumer needs, it is also creating new desires, said Cheung.
Amazon's brand valuation has soared by 59% in the past year.
First published June 7, 2016: 8:49 PM ET
Methodology: The 2016 BrandZ ranking of the most valuable brands in the world was carried out by Millward Brown, part of advertising firm WPP. It calculates brand value by using in-depth financial data and interviews with over three million consumers around the world.
